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Vendor Risk Management (VRM) Implementation

Learn how to effectively manage a Vendor Risk Management Implementation.

This two-day course covers the domain knowledge, common implementation technical  aspects, and various processes needed to effectively manage a Vendor Risk Management (VRM) implementation.

Attendees will learn and practice various tactical skills and strategies that will better prepare them to implement VRM. Through lectures, group discussion, hands-on labs and demonstrations, participants build on existing knowledge and skills by applying implementation best practices. Course topics include:

  • Vendor Risk Management Review
  • Core Configuration
  • Assessment Configuration
  • Vendor Risk Issues and Processes
  • Vendor Portal Configuration
  • Application Relationships
  • Dashboards and Reports
GK# 821293
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Who Should Attend?

This course is suitable for anyone who will be working on a ServiceNow implementation of the Vendor Risk Management application. Examples include:

  • Technical Consultants, Implementers, Developers, and Architects – who will be configuring, developing, or supporting the Vendor Risk Management applications
  • Project/Program/Engagement Managers – who will be leading implementation of the Vendor Risk Management application in ServiceNow
  • Operations Managers – who will oversee work completed using the Vendor Risk Management application in ServiceNow

What You'll Learn

During this two-day interactive training course, participants learn how to run a successful customer Vendor Risk Management implementation. Participants will:

  • Define key concepts and roles related to Vendor Risk Management in ServiceNow and navigate the Vendor Risk Management application components
  • Configure vendor portfolio data and vendor process workflows
  • Develop Questionnaire Templates, Document Request Templates, and Assessment Templates, which are used to create vendor risk assessments
  • Access the Vendor Assessment Portal, manage vendor contacts, complete assessments, and interact with the Vendor Risk team
  • Create and manage Vendor Risk Assessment related issues and remediation
  • Translate assessment responses into Risk and Control Compliance using existing GRC applications
  • Analyze baseline VRM reports and dashboards
  • Examine solution features and implementation considerations
  • Discuss supported integrations and share best practices

Course Outline

Module 1 Vendor Risk Management Review

  • About VRM
  • VRM Process
  • Technical Details
  • Lab 1.1 Preparing to Implement ServiceNow Vendor Risk Management

Module 2 Core Configuration

  • Vendor Portfolio Configuration
  • Lab 2.1 Vendor Setup
  • Vendor Contacts Configuration
  • Lab 2.2 Populate Vendor Contacts
  • Vendor Tiering Configuration
  • Lab 2.3 Vendor Tiering
  • Vendor Security Scoring Configuration
  • Lab 2.4 Vendor Hierarchy and Engagements

Module 3 Assessment Configuration

  • Assessment Basics
  • Vendor Assessment Configuration
  • Vendor Risk Assessment Generation
  • Lab 3.1 Vendor Risk Assessment Templates
  • Lab 3.2 [CHALLENGE] Data Privacy Assessment
  • Vendor Risk Assessment Calculations
  • Vendor Risk Assessment Lifecyle
  • Lab 3.3 Vendor Risk Assessments

Module 4 Risk Issues and Processes

  • Vendor Risk Issue Configuration
  • Lab 4.1 Configure Vendor Risk Issue Approval Workflow
  • Vendor Risk Task Configuration
  • Vendor Risk Process Workflows
  • Lab 4.2 Configure Vendor Assessment Reminders Workflow

Module 5 Vendor Portal Configuration

  • Contact Configuration
  • Lab 5.1 Working in the Vendor Assessment Portal
  • Vendor Assessment Processing and Configuration
  • Lab 5.2 Vendor Risk Issues
  • Lab 5.3: Vendor Risk Areas and Criteria Affecting Engagements

Module 6 Application Relationships

  • ServiceNow GRC Overview
  • Monitor Risk and Control Compliance
  • Other Application Relationships
  • Lab 6.1 GRC Integration


Module 7 Dashboards and Reports



Related Certifications

Upon completion of course, the candidate will be issued a voucher code to register for the Certified Implementation Specialist – Vendor Risk Management exam.

ServiceNow Certified Implementation Specialist - Vendor Risk Management Certification